24 November 2016
Dear Expert In a 3rd grade Municipal area of Tamilnadu, I am intending to buy a single storey house for a consideration of about 6 lac rupee. In the current situation, how much I can receive advance in cash from the vendor. The deed of sale agreement is to buy within 3 months from November 16. Any ceiling on receiving cash as advance or remaining money. What procedure I have to follow. Regards
24 November 2016
So long as buyer and seller are comfortable, the cash transaction can be entered into.It is very much valid. In order to reduce the risk of carrying cash, people normally do the transactions in demand draft / cheque/ rtgs etc.
CAclubindia
